Praia, Oct. 22 (Lusa) – Cape Verde’s finance minister, Olavo Correia, said on Monday that next year’s €664 million budget would consolidate economic growth and create jobs, especial for young people.
He said this would be the country’s largest ever budget with revenues of €594 million, the equivalent to 22% of Cape Verde‘s Gross Domestic Product (GDP).
The government expects operating expenses of €442 million and investments of €205 million, 11.3% of GDP.
The country also expects the economy to grow between 4.5 and 5.5% next year, the public debt to fall from 127.9% to 126.3% of GDP, the deficit to be about 3% with the unemployment rate falling from 12.2% to 11.5% and inflation to be between 1.5 and 2%.
The government also intends to cut company income tax from 25% to 22% to boost investment and create more jobs.
The minister added that more needing doing to combat tax evasion such as introducing electronic receipts and more supervision.
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